Indian Oil Corporation Ltd. delivered a remarkable turnaround in Q4 FY26, with net profit surging 56.9% year-on-year to ₹11,377.51 crore from ₹7,264.85 crore in the corresponding quarter last year. According to the company's latest financial results, revenue from operations increased 6.9% YoY to ₹2,32,855.33 crore compared to ₹2,17,725.44 crore in Q4 FY25. The state-run oil marketing company demonstrated significant operational improvement, with EBITDA jumping 52.6% YoY to ₹20,715.56 crore from ₹13,572.46 crore, while EBITDA margin expanded substantially to 8.9% from 6.2% in the previous year. Earnings per share improved to ₹8.26 for Q4 FY26 compared with ₹5.28 in the year-ago period.
The company's operational performance showed strong momentum across key segments during Q4 FY26. Product sales for the quarter stood at 26.065 MMT, while refineries throughput came in at 19.732 MMT. Pipelines throughput during the quarter was reported at 27.656 MMT, reflecting robust demand across the company's infrastructure network. The improved operational metrics contributed significantly to the overall profitability enhancement, with higher refining margins supporting the strong year-on-year performance recovery.
Indian Oil announced a dividend of ₹1.25 per equity share for fiscal 2026, marking the lowest dividend of ₹1.5 per share since August 2021. The company will distribute nearly ₹1,765 crore to shareholders with the record date yet to be set. As reported by the exchange filing, the final dividend is subject to approval at the annual general meeting, with payment scheduled within 30 days of declaration. The company has issued interim dividends of ₹2 per share in March 2026 and ₹5 in December 2025, bringing total fiscal 2026 dividend to ₹8.25 per share.
On the expenditure front, excise duty expenses rose to ₹24,972.10 crore from ₹22,758.42 crore a year earlier, while other expenses increased to ₹18,538 crore compared to ₹12,269.26 crore in the corresponding quarter of the previous financial year. Finance costs stood at ₹1,849.27 crore during the quarter. The company's depreciation, amortisation and impairment expenses increased to ₹5,173.81 crore from ₹3,914.42 crore in Q4 FY25. Total comprehensive income for the quarter stood at ₹14,677.40 crore, compared to ₹8,233.37 crore a year ago, reflecting the strong operational performance across the company's business segments.
The earnings announcement came after market close, with the stock closing 1.99% lower at ₹151.64 per share, compared to a 0.03% advance in the NSE Nifty 50 index. During trading hours, the stock fell as much as 2.94% to ₹130.53 per share. According to market data, the stock has declined 8.92% in the last 12 months and fallen 20.82% year-to-date, reflecting investor concerns over the company's performance trajectory despite the strong quarterly results showing significant operational improvements.
